thank you everybody for coming. >> pentagon spokesman briefed on the defense strategy as the automatic defense budget cuts approach. >> the sequestration goes into effect for the remainder of the year and will require the department of defense to cut $46 billion from the level of funding provided on the f.y. 2013 continuing resolution in the last seven months of the fiscal year. by law, sequester would apply to all of the d.o.d. budget, including wartime spending. the only exception is that the president has indicated his inat the present time to exempt all military personnel funding from sequestration. while d.o.d. led leaders support this decision, it doesn't mean others will be cut to offset the exemption and these cuts will amount to 9%. in addition to requiring these large and sudden cuts, the law mandates they be applied in a rigid, across-the-board manner account by account, item by item. cuts to the operating portions of the d.o.d. budget must be equal in percentage terms at the level of appropriations account. army, active operations and maintainance, navy operations and with